Second stimulus check: how much does the new stimulus check cost? – Community News
Stimulus Check

Second stimulus check: how much does the new stimulus check cost?

Another round of COVID-19 stimulus checks is underway, but far fewer than what Americans received the first time.

WASHINGTON — Congress passed a $900 Covid-19 relief bill that will send another round of direct payments to Americans, just half of what they were in March.

How much does the new stimulus control cost?

For instant payments, the account offers $600 to individuals earning up to $75,000 per year and $1,200 to couples earning up to $150,000, with payments phasing out for higher earners. An additional $600 payment will be made per dependent child, similar to the last round of support payments in the spring.

Under the CARES Act, millions of Americans received checks up to $1,200 per adult, and an additional $500 for each eligible child, for individuals earning less than $75,000 and couples earning less than $150,000 annually.

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What about unemployment benefits?

The bill combines funds for the fight against the coronavirus with financial support for individuals and companies. It would provide temporary additional unemployment benefits of $300 a week and an immediate stimulus payment of $600 to most Americans, along with a new round of grants for hard-hit businesses, restaurants and theaters and money for schools, health care providers and tenants being evicted. .

The $300-a-week unemployment benefit bonus was half of the additional federal unemployment benefit provided in March under the $1.8 billion CARES Act. That more generous benefit and would be limited to 11 weeks instead of 16 weeks. The $600 direct incentive payment was also half of the March payment.